Treasury stock is classified as: A. A liability account B. An asset account C. A contra equity account D. A contra asset account On September 1, a corporation had 50.000 shares of $5 par value common stock, and $1,000,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporations - for-1 stock split. The general journal entry to record this transaction is A Debit Retained Earings $750,000 credit Common Stock $750,000 08 Debit Retained Earnings $750,000, credit Common Stock Split Distributable $750,000 CDebit Retained Earnings $250,000, credit Common Stock $250,000 D.No entry is made for this transaction A company had a beginning balance in retained earnings of $43,000. It had net income of $6,000 and paid out cash dividends of $5,625 in the current period. The ending balance in retained earnings equa A $31,375 08. $(12,625) C$54,625 00.$43,375